Vietnamese manufacturing growth picked up again in May amid record export growth, with an industry gauge suggesting the fastest rise in new business since March last year.
According to a report by Financial Times, the latest Nikkei-Markit manufacturing purchasing managers’ index for Vietnam rose to 53.9 in May, from 52.7 in April.
The May reading was the sharpest increase since April 2017 and also marked the thirtieth-straight month the gauge has been above the 50-point mark separating expansion from contraction.
Andrew Harker, principal economist at IHS Markit, which compiles the survey, said:
“A record rise in new export orders is the key highlight … helping to drive growth across the sector. Output price inflation continued to ease as companies often favoured holding down prices to help secure sales rather than passing on sharp rises in input costs.”
By Edward White